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Premier sees stable, healthy financial market ahead

Premier sees stable, healthy financial market ahead

Source:  China Daily; Zhao Yinan; September 10, 2015

China is in control, and its reform will continue. This was the message that Premier Li Keqiang, China's second in command, delivered to an international audience in a briefing about the Chinese economy on September 9, 2015.

Li seeks to quiet fears

Li sought to assuage the world's concerns by saying that China is fully capable of overcoming systemic risk to its financial system.

Effective policy measures have been taken toward stabilizing the market, the premier said. "Such efforts are made to prevent the wide spread of financial risks, and so far we can say that the systemic risks to the financial market have been prevented."

China to stick to policies

Li said the next step that China will take is to "stick to the market-oriented and law-abiding principle in building a transparent, stable and healthy financial market."  China will not be a cause of world economic risk. Instead, the country will continue to be a driving force of global development, he said.

Mitsubishi agrees

Yorihiko Kojima, chairman of the board of Mitsubishi Corp, Japan's largest trading company, said he believes that the Chinese market will improve in a couple of years, since Li is a very capable leader, and he doesn't think that the Chinese economy overall is facing great difficulties.

Kojima said China has always been a major market for his business. "The company's biggest office outside Japan was based in New York in the past, but it has moved to Shanghai since 2013."

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